AI Spine Surgery Firm Carlsmed Raises $100.5 Million in IPO
The firm, which uses AI to personalize spine surgery, sold 6.7 million shares at $15 apiece, according to terms of the deal seen by Bloomberg News. The company had offered shares for $14 to $16 each, according to an earlier US Securities and Exchange Commission filing.
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Novo Nordisk AS (NVO) Q2 2025 Earnings Call Highlights: Robust Growth in Obesity Care and ...
Sales Growth: 18% increase in the first 6 months of 2025. Operating Profit Growth: 29% increase in the first 6 months of 2025. GLP-1 Sales in Diabetes: 10% increase, with US operations growing 9% and international operations growing 10%. Obesity Care Sales: 58% increase, driven by US operations growing 36% and international operations growing 125%. Rare Disease Sales: 15% increase, with US operations growing 23% and international operations growing 10%. Gross Margin: Decreased to 83.4% from 84.9% in 2024. R&D Costs: Decreased by 11% in both Danish kroner and at constant exchange rates. Net Profit: Increased by 22%. Diluted Earnings Per Share: Increased by 23% to DKK12.49. Free Cash Flow: DKK33.6 billion compared to DKK41.3 billion in the first 6 months of 2024. Capital Expenditure: DKK28.1 billion compared to DKK18.9 billion in 2024. Interim Dividend: DKK3.75 per share, an increase of 7% compared to August 2024. Warning! GuruFocus has detected 1 Warning Sign with NVO. Release Date: August 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Novo Nordisk AS (NYSE:NVO) reported an 18% increase in sales and a 29% increase in operating profit for the first half of 2025. The company is serving almost 46 million patients with its diabetes and obesity treatments, marking an increase of over 3.5 million patients compared to the previous year. Obesity care sales increased by 58%, with international operations growing by 125%, driven by the strong performance of Wegovy. Novo Nordisk AS (NYSE:NVO) has initiated several promising R&D projects, including the advancement of amycretin into Phase III clinical development for weight management. The company has entered an exclusive collaboration with Septerna to develop small molecules for treating obesity, Type-2 diabetes, and other cardiometabolic diseases. Negative Points Novo Nordisk AS (NYSE:NVO) has lowered its full-year sales outlook for 2025 due to lower growth expectations for Wegovy in the US obesity market and Ozempic in the US GLP-1 diabetes market. The company is facing challenges with unlawful mass compounding of semaglutide in the US, impacting Wegovy's market penetration. Sales growth in the US was affected by gross to net sales adjustments and a decline in volume, despite positive adjustments related to prior years. The company's gross margin decreased to 83.4% from 84.9% in 2024, mainly due to amortizations and depreciations related to Catalent and ongoing capacity expansions. Free cash flow decreased to DKK33.6 billion from DKK41.3 billion in the first six months of 2024, driven by increased capital expenditures. Q & A Highlights Q: Can you provide insights on the impact of the CVS formulary update on Wegovy prescriptions and the ongoing issue with compounded GLP-1s? A: David Moore Moore, Executive Vice President - US Operations: We are pleased with the CVS formulary conversion, which is proceeding as planned. While we won't disclose specific numbers, the conversion aligns with our expectations. Regarding compounded GLP-1s, we are prioritizing patient safety and legal compliance. Compounding is illegal in the US except for rare circumstances, and we are actively pursuing legal actions to address this issue. Q: What are the reasons for the destocking in China, and how do you view the growth outlook given the upcoming generic semaglutide? A: Maziar Doustdar, Incoming Chief Executive Officer: The destocking is primarily due to adjustments following large stock builds last year in anticipation of Wegovy launches. We are not losing market share in China; in fact, we are gaining. The growth outlook remains positive due to the significant unmet need in diabetes and obesity, with 200 million people living with obesity and 100 million with diabetes in China. Q: Could you elaborate on the recent trends in Wegovy prescriptions and the impact of CVS and NovoCare Pharmacy? A: David Moore Moore, Executive Vice President - US Operations: The increase in Wegovy prescriptions is partly due to CVS and our commercial efforts, including a new campaign focused on weight loss. NovoCare Pharmacy is a long-term initiative, and we are encouraged by the potential to expand the cash channel, partnering with telehealth and other entities. Q: What led to the discontinuation of Zalfermin for MASH, and do you still see potential in the FGF21 target? A: Martin Lange, Executive Vice President - Development: We discontinued Zalfermin as it did not show significant differentiation from semaglutide in efficacy. Semaglutide has strong data in MASH, currently under FDA review. While FGF21 biology remains of interest, it did not outperform semaglutide in our trials. Q: How do you view the competitive dynamics in the diabetes market following the SURPASS-CVOT results? A: Martin Lange, Executive Vice President - Development: The SURPASS-CVOT results showed tirzepatide was non-inferior to dulaglutide, which had a 12% CV risk reduction. Semaglutide, however, has demonstrated a 26% CV risk reduction, which remains unsurpassed in the incretin space, highlighting its strong cardiovascular benefits. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
14 minutes ago
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China's Export Machine Powers Ahead While Trade With US Shrivels
(Bloomberg) — China's export growth unexpectedly accelerated last month in the fastest gain since April, as demand from around the world compensated for the continued slump in shipments to the US. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station Total exports rose 7.2% in July from a year earlier to $322 billion, a surprise to most economists who had expected a slowdown from June's increase of 5.8%. Data released Thursday by the customs authorities showed the pickup was driven by strong growth in shipments to the European Union, Southeast Asia, Australia, Hong Kong and other markets, which more than made up for the fourth month of double-digit declines in US purchases. 'What really supported China's stronger-than-expected overseas shipments in the past three months was exports to non-US markets,' said Jacqueline Rong, chief China economist at BNP Paribas SA. The resilience in overseas shipments comes despite the high tariffs imposed by the US, showing that global demand for Chinese goods remains strong and still provides a significant driver for the domestic economy. Beijing and Washington face an Aug. 12 deadline to prolong their 90-day tariff truce. While the Chinese side said the two nations agreed to extend it after talks in Sweden last month, US officials have made clear President Donald Trump will make the final call on maintaining the agreement. What Bloomberg Economics Says... 'The July reading supports our view that exports may stay broadly resilient despite weaker trade with the US. The key risk hinges on whether and how other countries may tighten controls on transshipments under their trade deals with the US.' — Eric Zhu. For full analysis, click here An improvement in demand outside the US has meant the value of exports so far in 2025 is well above any previous year and would reach almost $3.8 trillion at the current pace. But some economists expect a slowdown in the second half of the year as companies try to sell off their increased inventories. China's currency is also providing a boost to exports. The yuan rebounded a little from July but is still weaker than it's been for years against a basket of its peers. 'While some of the sales to the Asean countries was suspected to be linked to re-routing, exports to Latin America and Africa that were less likely to be associated with transshipments were even more robust,' Rong said. 'Chinese goods are very competitive, and in recent months the yuan actually depreciated against non-US currencies, which helped exports as well.' China has also increasingly relied on third countries for the manufacturing of final products or components, a trend that accelerated following Trump's first trade war and his imposition of higher restrictions on the world's second-largest economy. China's share of total value-added manufacturing of goods destined for the US through countries including Vietnam and Mexico surged to 22% in 2023 from 14% in 2017, according to Bloomberg Economics. Shipments to the US fell 22% from a year earlier after slumping just over 16% in June. Chinese firms were able to increase their sales in other markets to compensate for the drop to the US, with exports to the EU rising 9.3% and growing almost 17% to the 10 Southeast Asian nations in the Asean group. Imports climbed 4.1%, with the volume of purchases of integrated circuits rising to a four-year high. China's exports of chips were also strong, showing the effects of a strong global semiconductor sector and the boom in the development of artificial intelligence, according to Rong. Exports of ships fell for the first time in five months, while vehicle sales abroad continue their strong growth, rising almost 19% by value in July. Shipments of machines and high-tech products also grew, with sales of rare earths overseas down for a sixth month. Chinese imports of key commodities held up in July, with copper, iron ore, soybeans and crude oil all posting year-on-year gains. BNP's Rong cautioned, however, that China's stronger-than-expected import growth may not last, noting that the yearslong property market slump deepened last month. High-frequency data indicates that trade activity is already slowing, with Chinese ports processing fewer containers in the seven days through Aug. 3 than the previous period, the second straight week of declines. Overall, China's trade surplus was $98.2 billion, lower than in June but still well above the historical average. Should this trend hold up, it will be well above $1 trillion in 2025, providing much needed support to an economy in deflation and still facing weak domestic demand. —With assistance from Wenjin Lv. (Updates throughout.) Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Emerson Electric Co (EMR) Q3 2025 Earnings Call Highlights: Strong Profitability Amid Market ...
Revenue: Underlying sales growth of 3% for the third quarter. Adjusted Earnings Per Share (EPS): $1.52, a 6% increase year-over-year. Free Cash Flow: $970 million, with a margin of 21.3%. Adjusted Segment EBITDA Margin: 27.1%, impacted by 40 basis points due to tariffs. Backlog: Increased to $7.6 billion, with a book-to-bill ratio of 1%. Price Contribution: 2.5 points in the quarter. Fourth Quarter Guidance: Expected underlying sales growth of 5% to 6% and adjusted EPS between $1.58 and $1.62. Full Year Guidance: Underlying sales expected to be up approximately 3.5%, with adjusted EPS of approximately $6 per share. Warning! GuruFocus has detected 5 Warning Signs with GERN. Release Date: August 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Emerson Electric Co (NYSE:EMR) reported strong profitability with an adjusted earnings per share of $1.52, meeting the top end of their guidance. The company announced a strategic collaboration with TotalEnergies, enhancing their enterprise operations platform and showcasing their innovation in automation. Emerson's industrial software annual contract value (ACV) grew double digits, ending the quarter at $1.5 billion. The Test & Measurement segment showed significant recovery, with orders up 16%, indicating strong market demand. Emerson's free cash flow generation was better than expected, resulting in a margin of 21.3%. Negative Points Sales growth was impacted by easing surcharges, resulting in underlying sales growth of only 3%, which fell short of guidance. The Intelligent Devices segment faced profitability challenges due to tariffs and unexpected foreign exchange impacts. Europe's sales were down 7%, indicating regional challenges in market performance. The discrete automation market, particularly in automotive and packaging in Western Europe and China, remains relatively depressed. The tariff environment remains dynamic, with Emerson's annualized gross incremental tariff impact now estimated at $210 million, affecting profitability. Q & A Highlights Q: Can you explain the margin dynamics for Intelligent Devices, considering the impact of tariffs and FX? A: The Intelligent Devices segment experienced a margin decline due to tariffs and unexpected FX impacts. When excluding these factors, margins were up by 20 basis points. Tariffs primarily affected this segment, unlike Control Systems and Software, which had minimal tariff exposure. (Surendralal Karsanbhai, CEO) Q: What is driving the recovery in the Test & Measurement segment, and is it broad-based? A: The recovery in Test & Measurement is broad-based across all segments and regions. The portfolio business, aerospace defense, semiconductor, and automotive sectors are all contributing positively. Asia, particularly China, is leading the recovery, followed by North America and Europe. (Surendralal Karsanbhai, CEO; Ram Krishnan, COO) Q: How did orders trend throughout the quarter, and what is the outlook for software growth next year? A: Orders remained consistent with a mid-single-digit exit rate, with some fluctuations due to timing. For software, AspenTech's ACV is expected to continue growing in high single to double digits, with consistent growth in the Process segment. (Surendralal Karsanbhai, CEO; Ram Krishnan, COO) Q: What is the outlook for the power vertical, and can growth remain elevated? A: The power vertical is expected to sustain high teens growth over the next couple of years, driven by opportunities in generation and transmission distribution. The focus has shifted to project pursuit and market expansion, supported by strong customer relationships. (Surendralal Karsanbhai, CEO; Ram Krishnan, COO) Q: Can you provide more details on the Control Systems and Software segment's performance and outlook? A: The segment saw mid-single-digit growth, with some lumpiness due to project timing and ASC 606 recognition. AspenTech's ACV growth remains strong, and the systems business continues to perform well. Overall, the segment is expected to achieve high-end growth within the 4% to 7% range. (Michael Baughman, CFO; Ram Krishnan, COO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
